MyAirline, a Malaysian budget carrier, abruptly suspended operations on October 12, 2023, citing financial pressures less than 11 months after it took to the skies. The airline apologized for the “extremely painful decision” but said “significant financial pressures” made it necessary to temporarily halt operations pending shareholder restructuring and recapitalization of the company. The move left angry passengers stranded at the airport, and the Malaysian Aviation Commission instructed MyAirline to immediately halt sales and bookings of flights, and said refunds must be given. The airline was behind in paying salaries, airport fees, and many other items, and had been trying to secure new investors for the last few months with a last-ditch attempt failing on October 11, when a deal with a potential white knight fell through. The airline had captured about a 10% share of Malaysia’s domestic market, which currently consists of about 2 million passengers per month.

In summary, MyAirline suspended operations due to significant financial pressures, leaving passengers stranded and prompting an investigation by the Malaysian Aviation Commission. The airline had been struggling financially and was behind in paying salaries and airport fees.